Caveat – this article was spawned with our interactions with two Canadian resources. #1 Sharon Hartung, author of two books “Digital Undertaker” and “Digital Executor”, and #2, a recent posting from our friends at knowledgeflow.org that we will reference later in the article.
In today’s world, our lives are increasingly entwined with technology and the internet. From social media profiles to online banking and photo storage, our digital presence holds significant value – both personal and financial. For seniors, planning how your digital accounts and assets will be managed in the event of an emergency or after your passing, much like a Will, is an essential step toward ensuring your loved ones are not burdened with unnecessary stress or confusion.
While many people focus on creating a Will for their physical assets, digital assets often go overlooked. Yet, these can hold tremendous importance:
- Unpaid subscriptions or forgotten online accounts can accumulate fees. Digital wallets or cryptocurrency accounts need proper access to avoid being lost.
- Family photos, videos, and emails stored online represent cherished memories that your loved ones will want to preserve.
- Some online accounts may require specific permissions to access after death. Without a plan, these accounts might remain inaccessible or be deleted.
Here are some steps to prepare your digital estate:
Take Inventory of Your Digital Assets
Start by listing your digital accounts and assets such as:
- Email accounts
- Social media profiles (Facebook, Instagram, Twitter, etc.)
- Online banking and investment accounts
- Subscription services (Netflix, Amazon, etc.)
- Photo storage services
- Digital wallets and cryptocurrency accounts
- Devices (smartphones, tablets, computers) and their passcodes
Appoint a Digital Executor
A digital executor is someone you trust to manage your online accounts after your passing. Ensure this person is tech-savvy and understands your wishes. While not all jurisdictions legally recognize digital executors, you can still outline your wishes in your estate planning documents.
Consolidate Your Information
Store usernames, passwords, and security questions securely. Use a trusted password manager or write them down and keep them in a safe place. Let your digital executor know where to find this information.
Define Your Wishes
Be clear about what should happen to each account:
- Should your social media accounts be memorialized or deleted?
- Do you want emails and files preserved or erased?
- Who should have access to your digital photos and videos?
Update Legal Documents
Work with an estate planning attorney to include instructions for your digital assets in your will or trust. Specify the authority you grant your digital executor to avoid potential legal challenges.
Utilize Built-in Tools
Many platforms offer features to manage your digital legacy:
- Facebook allows you to designate a “legacy contact” to manage your profile after you pass away. (1)
- Google’s Inactive Account Manager can notify a designated person if your account is inactive for a specified period. (2)
- Apple ID offers a Legacy Contact feature for accessing your data after death. (3)
NOTE:
Our friends at KnwledgeFlow.org have created a great online resource to help create a digital Estate plan for free (4)
For those wanting a more in-depth resource on this topic, our friend Sharon Hartung has written two great books, “The Digital Undertaker” (5) and the “Digital Executor” (6). Here’s a great video interview we did with Sharon
So, what are the three benefits of digital estate planning?
- You’ll rest easier knowing your wishes are clear and your loved ones won’t face confusion or additional stress.
- With clear instructions, your family can focus on celebrating your life rather than untangling digital accounts.
- Planning prevents unauthorized access to sensitive information or accounts.
In today’s increasingly onlife world, planning for your digital estate is a crucial part of comprehensive estate management. By taking steps to organize, protect, and document your digital assets, you provide clarity and ease for your loved ones during a time that could otherwise be filled with stress and confusion. Just as with physical assets, ensuring your digital legacy aligns with your wishes is essential. Starting now, by inventorying accounts, appointing a digital executor, and updating your legal documents, helps secure both your personal legacy and the memories you leave behind. Taking control of your digital dossier today means preserving it responsibly for tomorrow.
Digital estate planning might seem like an added burden, but it’s a proactive way to protect your legacy and relieve your loved ones from unnecessary hurdles. By thoughtfully managing your online presence, whether it’s through selecting which accounts to memorialize, preserving precious family photos, or protecting sensitive information, you give your family peace of mind.
In a world where digital platforms play such an integral role in our lives, leaving this part of your estate unaddressed could mean lost memories, inaccessible financial assets, and lingering digital dossiers that no one can manage. Planning for your digital assets ensures that your wishes are honored and that those you leave behind are supported.
Remember, each step you take now contributes to a more seamless transition later. From organizing account details to using built-in digital legacy tools offered by various platforms, these actions help prevent confusion, avoid legal challenges, and, most importantly, allow your family to celebrate your life without added stress. Digital estate planning is a way to preserve not just your assets but also your values and memories. Embrace this opportunity to secure a meaningful legacy for those who matter most.
Your digital legacy is just as important as any other part of your estate. Take control today to leave a clear and lasting path for your loved ones after you pass.
Digital Food For Thought
The White Hatter
Facts Not Fear, Facts Not Emotions, Enlighten Not Frighten, Know Tech Not No Tech
References:
1/ https://www.facebook.com/help/1568013990080948 https://transparency.meta.com/policies/community-standards/memorialization/
2/ https://support.google.com/accounts/answer/3036546?hl=en
3/ https://support.apple.com/en-ca/102631
4/ https://knowledgeflow.org/resource/digital-estate-planning/
5/ https://www.amazon.ca/Your-Digital-Undertaker-Exploring-Canada/dp/1999450140/ref=sr_1_1
6/ https://www.amazon.ca/Digital-Executor®-Unraveling-Estate-Planning-ebook/dp/B093RCS9JV/ref=sr_1_1
